I read through many of the articles.
The part I am having trouble with is how to fund the multitude of years between retiring early (financial independence) and the age of 59 1/2 when I am allowed to start getting money out of the 401k, IRA, Roth IRAs, etc. (I live in USA, I am sure other countries have different rules.)
I am really hoping this subject could be covered on the blog.
By my calculations, if I stop putting money into retirement accounts today, even at pessimistic 5% gains (after tax, tip, inflation) I should have a ridiculously high income post 59 1/2.
180K in retirement accounts now.
4k in HSA
7k in non-retirement accounts.
People here seem to have the answer, and speak as though you should max out all this retirement stuff 1st.
I am 36 now. In theory, conservatively, I reach financial independence by 44.
How do you survive the years between age 44 and 59 1/2 if near 100% of my money is tied up in retirement accounts?
Is there a different plan I should follow for storing up money in non-retirement accounts instead?
My details for the world to help you answer this question. A rough, non-exact numbers. Wimpier than mustacheian spending.
Income $133,000 (yearly combined household)
Taxes: $27,000 (includes fed, state, medicare, etc)
Giving: $20,000
Savings: $38,000 (19.5k 401k, 11k RothIRA, 1.5k HSA, 6k regular investment)
Spending: $40,500 (putting wife through nursing school, this goes down by $10k in 1 year)
Cash: $7500
Note: I rent, I have $0 capital items. 1 used smart car if you want to call that capital.